Demo

Strategic Business Analyst (Insurance Product Testing)

TalentFish
Des Plaines, IL Full Time
POSTED ON 3/25/2025
AVAILABLE BEFORE 4/23/2025

Position : Strategic Business Analyst (Insurance Product Testing)

Location : Hybrid- 2 days in office in any of the following locations : Rosemont, IL / Cedar Rapids or Des Moines, IA / Baton Rouge, LA

Employment Type : Full-Time Direct Hire

Job Overview :

We are seeking a highly motivated and analytical Strategic Business Analyst to join our premier client. This role is pivotal in the PMO supporting the actuarial team with testing, evaluating, and analyzing insurance products. The ideal candidate will bridge the gap between business requirements, product design, and actuarial testing, ensuring that new and existing insurance products meet business objectives and actuarial standards. This role requires strong problem-solving and mathematical skills, a keen eye for detail, and the ability to communicate effectively with both technical and non-technical stakeholders.

Required Skills & Qualifications :

  • Education :

Bachelor's degree in Business Administration, Actuarial Science, Finance, Economics, or a related field.

  • Professional certifications (e.g., ACAS, ASA, CFA) or relevant insurance industry qualifications are a plus.
  • Experience :
  • 4-6 years of experience in business analysis, within the life insurance or actuarial industry.

  • Experience in testing life insurance products or working closely with actuarial teams on product development is highly desirable.
  • Skills & Competencies :
  • Strong analytical and quantitative skills, with experience in data analysis and financial modeling.

  • Proficiency in Microsoft Excel, SQL, or other data analysis tools.
  • Experience with insurance products, pricing models, and actuarial principles.
  • Excellent communication and interpersonal skills to work with cross-functional teams.
  • Ability to manage multiple tasks and prioritize in a fast-paced environment.
  • Strong problem-solving capabilities, with a keen eye for detail and quality assurance.
  • Desirable Skills :

  • Experience with insurance software or platforms.
  • Knowledge of regulatory requirements and industry standards related to insurance products.
  • Familiarity with automation or testing tools is a plus
  • Key Responsibilities :

  • Product Testing & Validation :
  • Collaborate with the actuarial team to support testing criteria for new insurance products and product modifications.

  • Assist in developing and executing test plans for product simulations, rate setting, underwriting processes, and pricing models.
  • Evaluate risk and make recommendations
  • Analyze and ensure that product performance aligns with the expected business outcomes, both from an actuarial and operational standpoint.
  • Conduct comprehensive reviews of test results, identify discrepancies, and provide detailed feedback for improvements or adjustments.
  • Data Analysis & Reporting :
  • Support the extraction and analysis of product and claims data to evaluate product performance.

  • Perform detailed trend analysis, risk assessments, and sensitivity analysis in collaboration with actuaries.
  • Generate reports and dashboards to present key metrics and insights related to product performance, risk management, and profitability.
  • Stakeholder Communication :
  • Serve as the liaison between the actuarial team and business units, ensuring alignment on product requirements, testing results, and implementation strategies.

  • Communicate complex technical findings in clear, actionable terms to both non-technical and technical stakeholders.
  • Document requirements, processes, and test results, ensuring all relevant parties are informed and engaged.
  • Process Improvement & Documentation :
  • Assist in the development and improvement of product testing processes and workflows.

  • Help ensure that all testing processes are well-documented, standardized, and compliant with regulatory and internal guidelines.
  • Recommend tools and techniques to streamline testing procedures and improve accuracy.
  • Risk Management :
  • Support the identification of risks associated with product design and pricing.

  • Work with the actuarial team to model and assess various risk scenarios to optimize product offerings.
  • Ensure that products are developed and tested within the scope of the company's risk management policies.
  • Compensation Information

    The expected salary range for this position is $95,000 - $130,000 per year, depending on experience and qualifications. This role also qualifies for comprehensive benefits such as health insurance, 401(k), and paid time off. TalentFish is committed to pay transparency and equal opportunity. The salary range provided is in compliance with applicable state and federal regulations.

    TalentFish is an employee-owned company pioneering a new realm in talent acquisition. We are redefining IT staffing by evolving AI, video screening, and our unique platform. TalentFish focuses on providing the best employee, consultant, and client experience possible.

    At TalentFish we are an Equal Opportunity Employer; we embrace and encourage diversity!

    Salary : $95,000 - $130,000

    If your compensation planning software is too rigid to deploy winning incentive strategies, it’s time to find an adaptable solution. Compensation Planning
    Enhance your organization's compensation strategy with salary data sets that HR and team managers can use to pay your staff right. Surveys & Data Sets

    What is the career path for a Strategic Business Analyst (Insurance Product Testing)?

    Sign up to receive alerts about other jobs on the Strategic Business Analyst (Insurance Product Testing) career path by checking the boxes next to the positions that interest you.
    Income Estimation: 
    $63,888 - $78,999
    Income Estimation: 
    $79,521 - $98,503
    Income Estimation: 
    $107,442 - $160,602
    Income Estimation: 
    $83,941 - $108,028
    Income Estimation: 
    $92,657 - $120,748
    Income Estimation: 
    $137,078 - $174,198
    Income Estimation: 
    $159,180 - $202,370
    Income Estimation: 
    $75,278 - $94,197
    Income Estimation: 
    $86,566 - $107,585
    Income Estimation: 
    $86,566 - $107,585
    Income Estimation: 
    $109,171 - $137,211
    Income Estimation: 
    $109,171 - $137,211
    Income Estimation: 
    $137,078 - $174,198
    View Core, Job Family, and Industry Job Skills and Competency Data for more than 15,000 Job Titles Skills Library

    Job openings at TalentFish

    TalentFish
    Hired Organization Address Arlington, IL Full Time
    Job Title : Sr IAM Engineer Primary Location : Hybrid in Chicago's west / northwest suburbs Position Type : Direct Hire ...
    TalentFish
    Hired Organization Address Chicago, IL Full Time
    Job Title : Support Specialist (Midlevel) Primary Location : Chicago - West-loop (Hybrid) Position Type : Contract to hi...
    TalentFish
    Hired Organization Address Rosemont, IL Full Time
    About the Company TalentFish is casting a line for a Senior Azure Cloud Engineer for our premier client! This is a full-...
    TalentFish
    Hired Organization Address Chicago, IL Full Time
    Job Title: Support Specialist Primary Location: must live in one of the following states: AZ, CA, CO,FL, GA, IL, IN, MA,...

    Not the job you're looking for? Here are some other Strategic Business Analyst (Insurance Product Testing) jobs in the Des Plaines, IL area that may be a better fit.

    Technical Business Analyst

    Strategic Employment, Bolingbrook, IL

    Strategic Business Analyst

    Wintrust, Northbrook, IL

    AI Assistant is available now!

    Feel free to start your new journey!